A Technically Bullish Gold Outlook

Written by Swiss America

www.maxpixel.net Gold Design Ounce Sticker 2588581Gold Outlook 2020 -FX Empire
"Technical analysts seem to be painting a bullish picture with 2019's mid-year breakout laying the groundwork for even higher prices in 2020. The bears are watching the 10-year yield, the bulls, the chart pattern. The two will work together to produce a strong rally if signs of recession re-emerge next year....

'According to our work, gold broke out of a critical 6-year base in June 2019 and established a new bull market. The correction that began in September is nearly complete, and gold should resume the uptrend in 2020. For 2020, we expect gold to continue to advance the larger pattern and challenge key resistance between $1750 – $1800. Our current forecast calls for a pattern breakout above $2000 by 2021 or 2022. However, that time frame could be expedited depending on the results of the 2020 election. Longer-term, we believe gold will continue to progress throughout the 2020s, potentially reaching $7500 - $10,000 or higher as the debt super cycle implodes globally." writes AG Thorson of Gold Predict."

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